Howard Hughes Holdings Inc.
78.88-1.89 (-2.34%)
Oct 29, 4:00:02 PM EDT · NYSE · HHH · USD
Key Stats
Market Cap
4.69BP/E (TTM)
15.26Basic EPS (TTM)
5.17Dividend Yield
0%Recent Filings
8-K
2025 Equity Plan approved
Howard Hughes Holdings Inc. stockholders approved the 2025 Equity Incentive Plan on September 30, 2025, at the annual meeting, authorizing up to 2,000,000 shares for options, restricted stock, and other awards to attract and retain talent. The plan replaces the 2020 version, halting new grants under the prior plan while recycling forfeited shares to support long-term incentives. No grants yet; vesting starts no earlier than one year.
8-K
HHH Q2 loss, Pershing infusion
Howard Hughes Holdings reported Q2 2025 results with a net loss of $12.1 million, or $(0.22) per share, dragged by a $48.2 million GAAP loss on MUD receivables sale that boosted liquidity by $180 million. Pershing Square's $900 million investment for 9 million shares at $100 each— a 48% premium—fuels diversification into a holding company atop MPC foundations. MPC EBT hit $102 million from 111 acres sold at a record $1.35 million average, while operating assets NOI rose 5% to $69 million on office and multifamily gains. Full-year guidance jumps: Adjusted Operating Cash Flow to $410 million, MPC EBT to $430 million. Yet execution risks loom in deploying fresh capital.
10-Q
Q2 FY2025 results
Howard Hughes Holdings swung to a $12.1 million net loss from continuing operations in Q2 FY2025 ended June 30, 2025, down from $47.4 million profit a year earlier, mainly due to a $48.2 million loss on MUD receivables sale that offset solid underlying momentum. Total revenues dipped 8% y/y to $260.9 million, with MPC land sales falling 19% y/y to $125.0 million from timing of closings, yet Operating Assets NOI climbed 5.5% y/y to $66.9 million on stronger multifamily and office leasing. MPC EBT slid 17% y/y to $102.4 million, while Strategic Developments turned profitable at $1.0 million versus a $3.0 million loss, aided by a land sale gain. Cash swelled to $1.4 billion after $900 million from Pershing Square equity issuance, bolstering $5.2 billion debt with $880.5 million undrawn commitments; free cash flow not disclosed in the 10-Q. The May 2025 Pershing deal closed for $900 million in stock, recognizing no goodwill as it's an equity raise. Yet regulatory hurdles in condominium entitlements remain a persistent drag.
8-K
Board members exit voluntarily
Howard Hughes Holdings Inc. announced on June 27, 2025, that board members Beth Kaplan and Steven Shepsman will not seek re-election at the 2025 annual meeting. Their exits stem from personal choices, not disputes over operations or policies. The company is hunting replacements. Board refresh keeps governance steady.
8-K
President Cross retires early
Howard Hughes Holdings Inc. announced President L. Jay Cross's retirement effective June 30, 2025, accelerating the prior non-renewal of his employment agreement set for December 1, 2025. Under the June 8 separation agreement, Cross receives $317,308 in base salary continuation, a $1,950,000 bonus, and a $2,300,000 discretionary payment, plus full vesting of 29,980 restricted shares and 17,208 options; performance awards for 41,926 shares continue vesting. This leadership shift streamlines executive transitions. COBRA coverage reimbursement runs through December 31, 2025.
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